Property Overview: 72 Greendell Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a distinct profile defined by a significant contrast between its modest house and its generous lot. Built in 1947, the 792 sqft living area is notably smaller than most homes in the Minnetonka area and across Winnipeg. The assessed value is correspondingly below average for the immediate vicinity. The true standout feature is the land: a 15,099 sqft lot that ranks in the top 4% of the neighbourhood and the top 2% city-wide, offering exceptional outdoor space that is rare for the city.
Its appeal lies in this unique balance. It is an opportunity for a buyer seeking a lower-cost entry into the market, where the value is primarily in the land itself. It would suit a hands-on buyer looking for a renovation or expansion project to grow into the large lot, or someone who prioritizes extensive private outdoor space—for gardens, recreation, or future development—over a large existing interior. It’s a property with foundational value and clear potential, rather than immediate move-in finish.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price?
Assessed values for tax purposes often lag behind market sale prices and are calculated using different criteria. The 2022 sale price reflects what a buyer was willing to pay in the open market at that time, which considered the property’s unique lot size and potential.
2. What does the "Elite" ranking for Land Area mean?
It means this property's lot size of 15,099 sqft is larger than approximately 96% of lots in Minnetonka and 98% of lots across Winnipeg. It is a statistically rare and above-average feature for the city.
3. Is the house in livable condition, or is it a tear-down?
The property details do not specify condition. Given its age (79 years) and the fact it was sold in 2022, a professional inspection is essential to determine if the existing structure is sound for renovation or if significant redevelopment is envisioned.
4. What are the possibilities for a lot this size?
Subject to local zoning bylaws and permits, the large lot could allow for additions to the existing home, the creation of separate outdoor living spaces, or even future subdivision or development of a secondary structure. Buyers should verify all possibilities with the City of Winnipeg.
5. How does the smaller living area impact resale?
The below-average square footage limits the pool of buyers to those seeking smaller homes or projects. However, the exceptional lot size is a major compensating factor that can attract specific buyers looking for land, potentially supporting value.